As accountants feel the pressure over increased scrutiny of their AML reporting, the Treasury has tabled a new consultation that is set to overhaul anti-money laundering supervision as we know it.

The Treasury have put forward four new ideas that could potentially reform the supervision of accountants and lawyers' compliance with money laundering regulations.

The options ranged from bolstering the current supervisors of supervisors OPBAS to the more extreme option of stripping the professional bodies and HMRC of its supervision responsibilities and creating a brand new supervisor - the one supervisor to rule them all.

On this week's podcast, David Winch explores the four potential reforms and offers advice to accountants anxious of upcoming changes. 

Also on the pod, the AWEB team discuss ICAS' recent review of MTD for ITSA and its call to scrap the controversial project's decision  on quarterly reporting, as well as taking a closer look at AI and asking: is this new technology a friend or foe when it comes to tax? 

Podcast speakers:
Richard Hattersley
Tom Herbert
David Winch

Producer/editor:
Will Cole

Cinematic + Bright

No Accounting for Taste ep 142: AML, AI and MTD

Richard Hattersley recalls his chats with Dan Heelan, director at Heelan Associates, and Ria-Jaine Lincoln, the founder of the Beauty Accountant, who have both found themselves having to correct AI-generated misinformation brought in by clients. The AccountingWEB team of two discuss the risks of relying on AI for advice and how accountants can get ahead of this issue when trust is on the line.

Tom Herbert looks ahead to 31 January 2026 as the first self assessment season where most taxpayers will use AI. With a survey from Taxfix showing 59% expect to turn to AI before the deadline, they explore why people are using it, how firms are applying it and why accountants remain irreplaceable. 


No Accounting for Taste ep197: Are clients putting too much trust in AI?

AccountingWEB’s business editor Tom Herbert speaks to Karen Briggs, KPMG’s new head of Brexit, about forecasting in uncertain times, what the firm is advising their clients and what a head of Brexit actually does...

No Accounting for Taste ep197: Are clients putting too much trust in AI?

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